Thursday, 30 October 2014

Budget was ‘missed opportunity’ – Frain

Fine Gael Local Election candidate for the Ballaghaderreen Castlerea area, Micheál Frain, has described the recent Budget as a “missed opportunity” to help small businesses.

“The Budget has done absolutely nothing to assist small businesses, who are finding it increasingly difficult in this current economic climate,” said Mr. Frain, who runs his own business. “Small businesses are by far the biggest employers in counties like Roscommon yet the budget did little to stimulate enterprise or assist in maintaining employment.

“Tax increases were inevitable, but the doubling of the income levy and the hike in the health levy together with the increase in the PRSI ceiling will have a negative impact on labour costs and consumer demand. With unemployment doubling over the past twelve months, no initiatives were introduced to assist enterprises and maintain employment. You cannot tax your way out of a recession, only trade your way out. By increasing the excise duties on diesel and the insurance levy, the Minister has failed to see the impact that this will have on small business,” concluded Mr. Frain.